C.G.F.A. merger
Consolidated Gold Fields Australia, Ltd, is planning to merge with its three listed mining subsidiaries, Renison, Ltd, (53.4 per cent-owned) Mount Lyell Mining and Railway Company, Ltd, (62.2 per cent) .and Associated Minerals Consolidated, Ltd, (56.1 per cent) which will increase , the London-con-trolled group’s Australian ovnership by a significant but as yet undisclosed amount.
C.G.F.A. itself is 69.8 per cent-owned by the Londonbased Consolidated Gold Fields group in which the Oppenheimer-controlled Anglo American and De Beers group built up a 25.9 per cent equity in controversial “dawn raids” on the stock 'market early last year. C.G.F.A. also reported a 28 per cent fall in its group net profit to sAusts.7 million in the six months to December 31.
In spite of the downturn, the directors declared an interim dividend of 13c a share compared with 10c a share previously, payable on April 16.
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Press, 27 February 1981, Page 8
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145C.G.F.A. merger Press, 27 February 1981, Page 8
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